Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

International investors bid for ScotWind licences

International investors

ScotWind is the first offshore wind auction to cover acreage off Scotland for a decade

The scale of interest in windfarm licences off Scotland has been underlined after more international heavyweights said they had joined the bidding for acreage in the landmark ScotWind round.

The Maple Power venture formed by Canadian energy infrastructure business Enbridge and Canada Pension Plan Investment Board described the licensing round as an “industry leading and highly attractive opportunity”.

ScotWind is the first offshore wind auction to cover acreage off Scotland for a decade.

Maple Power is participating as part of the NextGen consortium, which is backed by investment giants Blackrock and Sumitomo.

Other members include Fife-based Quaybridge Scotland and Belgium’s Parkwind.

The consortium will face strong competition for licences in ScotWind which has generated interest around the world.

A range of giants drawn from the energy, industrial and financial sectors have entered the bidding for ScotWind licences.

Oil giants BP, Royal Dutch Shell, Eni, Total Energies and Equinor have submitted bids.

Scottish Hydroelectric owner SSE, ScottishPower and Orsted are in the running as is Australian investment bank Macquarie.

When ScotWind was launched in June last year Crown Estate Scotland said around 10 windfarms could be developed on the acreage concerned. It suggested this could unlock as much as £8 billion investment.

The organisation said ScotWind bidders would have to submit supply chain development statements.

ScotWind was extended in February after the last round covering the rest of the UK drew a very strong response. It closed to applications on Friday.

Parkwind operates four windfarms off Belgium and has a pipeline of projects in Ireland and Germany. Maple Power has interests in windfarms off Germany and France.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.